Washington, DC – The National Foreign Trade Council (NFTC) commended the U.S. House Ways and Means Committee for approving draft legislation to implement the U.S.-Peru Trade Promotion Agreement (PTPA). The approval, which passed without amendment late yesterday, follows a Ways and Means hearing held last week to consider the agreement.
“The committee’s action is an important step towards full approval of the PTPA,” said Bill Reinsch, president of NFTC. “The agreement is important to U.S. business, agriculture, workers and consumers. We encourage Congress to make PTPA a priority and pass the agreement this year.”
Two-way trade between the United States and Peru reached $7.4 billion during 2005, with $2.3 billion of this coming from U.S. exports. The PTPA will allow for continued and increased market access for U.S. goods such as machinery, electronics, plastics and agricultural products.
Advancing Global Commerce for Over 90 Years
The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules-based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves hundreds of member companies through its offices in Washington and New York.